PARLIAMENTARY COMMITTEE: GOVERNMENT WORKING TO REDUCE GAP BETWEEN PARALLEL AND OFFICIAL EXCHANGE RATE TO ACHIEVE STABILITY
The Parliamentary Finance Committee explained, on Monday, that the government is working to reduce the gap between the parallel and official exchange rates to achieve stability, while indicating that the Iraqi economy will not be affected by the deteriorating conditions in Syria .
Committee member Moeen Al-Kazemi said in a statement followed by “Mil”, “The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria .”
Al-Kadhimi continued, “The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market .”
He added that “the dollar exchange rate in the parallel market is currently stable, noting that the government is working to reduce the gap between the parallel exchange rate and the official rate to achieve greater economic stability .”
Currency markets are witnessing significant changes with the “sudden” rise in the value of the Syrian pound against the Iraqi dinar .